The venerable technology essayist and author, Paul Graham, argues in his latest post that publishing was never about selling content --- publishers were selling the medium.
The business of selling information is a narrow one with less revenue than one might think, he suggests. That poses an enormous challenge as publishers look for revenue for information.
"What happens to publishing if you can't sell content? You have two choices: give it away and make money from it indirectly, or find ways to embody it in things people will pay for," he writes.
As for what to look for in backing technology, Graham concludes:
"When you see something that's taking advantage of new technology to give people something they want that they couldn't have before, you're probably looking at a winner. And when you see something that's merely reacting to new technology in an attempt to preserve some existing source of revenue, you're probably looking at a loser."
The business of selling information is a narrow one with less revenue than one might think, he suggests. That poses an enormous challenge as publishers look for revenue for information.
"What happens to publishing if you can't sell content? You have two choices: give it away and make money from it indirectly, or find ways to embody it in things people will pay for," he writes.
As for what to look for in backing technology, Graham concludes:
"When you see something that's taking advantage of new technology to give people something they want that they couldn't have before, you're probably looking at a winner. And when you see something that's merely reacting to new technology in an attempt to preserve some existing source of revenue, you're probably looking at a loser."
